https://www.taxtmi.com/caselaws?id=157153 A commercial discount remains deductible from turnover where it is ultimately reflected in the sale consideration, even if computed per metric ton and adjusted through credit memos or share certificates. Under the U.P. Sales Tax Act, turnover includes the aggregate sale price, but cash or other discounts allowed on the price in respect of a sale are excluded. The court treated the incentive as part of the sale transaction rather than a separate levy, and held that its accounting form did not change its character as a price discount. The disputed discount was therefore excluded from turnover, and the assessee succeeded. en-us Tue, 10 Sep 1991 00:00:00 +0530 Mon, 30 Sep 2013 17:43:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157153 A commercial discount remains deductible from turnover where it is ultimately reflected in the sale consideration, even if computed per metric ton and adjusted through credit memos or share certificates. Under the U.P. Sales Tax Act, turnover includes the aggregate sale price, but cash or other discounts allowed on the price in respect of a sale are excluded. The court treated the incentive as part of the sale transaction rather than a separate levy, and held that its accounting form did not change its character as a price discount. The disputed discount was therefore excluded from turnover, and the assessee succeeded. Case-Laws VAT and Sales Tax Tue, 10 Sep 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157153